In finance, economics, and decision theory, hyperbolic absolute risk aversion (HARA) refers to a type of risk aversion that is particularly convenient to model mathematically and to obtain empirical predictions from. It refers specifically to a property of von Neumann–Morgenstern utility functions, which are typically functions of final wealth (or some related variable), and which describe a decision-maker's degree of satisfaction with the outcome for wealth. The final outcome for wealth is affected both by random variables and by decisions. Decision-makers are assumed to make their decisions (such as, for example, portfolio allocations) so as to maximize the expected value of the utility function.
Attributes | Values |
---|
rdfs:label
| - Hyperbolic absolute risk aversion (en)
- Funzione di utilità HARA (it)
|
rdfs:comment
| - In economia, una funzione di utilità HARA è caratterizzata dalla forma funzionale: La denominazione di tale classe di funzioni di utilità deriva dall'inglese Hyperbolic Absolute Risk Aversion (avversione al rischio iperbolica), a causa della forma funzionale del coefficiente assoluto di avversione al rischio ad esse associato: Per le loro proprietà di trattabilità e adattabilità a rappresentare diversi tipi di preferenze, le funzioni della classe HARA sono largamente utilizzate in microeconomia e in finanza. (it)
- In finance, economics, and decision theory, hyperbolic absolute risk aversion (HARA) refers to a type of risk aversion that is particularly convenient to model mathematically and to obtain empirical predictions from. It refers specifically to a property of von Neumann–Morgenstern utility functions, which are typically functions of final wealth (or some related variable), and which describe a decision-maker's degree of satisfaction with the outcome for wealth. The final outcome for wealth is affected both by random variables and by decisions. Decision-makers are assumed to make their decisions (such as, for example, portfolio allocations) so as to maximize the expected value of the utility function. (en)
|
dcterms:subject
| |
Wikipage page ID
| |
Wikipage revision ID
| |
Link from a Wikipage to another Wikipage
| |
Link from a Wikipage to an external page
| |
sameAs
| |
dbp:wikiPageUsesTemplate
| |
has abstract
| - In finance, economics, and decision theory, hyperbolic absolute risk aversion (HARA) refers to a type of risk aversion that is particularly convenient to model mathematically and to obtain empirical predictions from. It refers specifically to a property of von Neumann–Morgenstern utility functions, which are typically functions of final wealth (or some related variable), and which describe a decision-maker's degree of satisfaction with the outcome for wealth. The final outcome for wealth is affected both by random variables and by decisions. Decision-makers are assumed to make their decisions (such as, for example, portfolio allocations) so as to maximize the expected value of the utility function. Notable special cases of HARA utility functions include the quadratic utility function, the exponential utility function, and the isoelastic utility function. (en)
- In economia, una funzione di utilità HARA è caratterizzata dalla forma funzionale: La denominazione di tale classe di funzioni di utilità deriva dall'inglese Hyperbolic Absolute Risk Aversion (avversione al rischio iperbolica), a causa della forma funzionale del coefficiente assoluto di avversione al rischio ad esse associato: Per le loro proprietà di trattabilità e adattabilità a rappresentare diversi tipi di preferenze, le funzioni della classe HARA sono largamente utilizzate in microeconomia e in finanza. (it)
|
prov:wasDerivedFrom
| |
page length (characters) of wiki page
| |
foaf:isPrimaryTopicOf
| |
is Link from a Wikipage to another Wikipage
of | |
is Wikipage redirect
of | |
is Wikipage disambiguates
of | |
is foaf:primaryTopic
of | |